Metropolitan West Correlations

Mutual Funds USA . 
Fund . Metropolitan West High
MWHYX Fund  USD 9.37  0.01  0.11%   
The current 90-days correlation between Metropolitan West High and Franklin Natural Resources is 0.12 (i.e., Average diversification). The correlation of Metropolitan West is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Metropolitan West Correlation With Market

Significant diversification

The correlation between Metropolitan West High and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Metropolitan West High and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Metropolitan West High. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Metropolitan Mutual Fund

  0.68MWCIX Metropolitan WestPairCorr
  0.67MWCRX Metropolitan WestPairCorr
  0.67MWCPX Metropolitan WestPairCorr
  0.99MWHIX Metropolitan West HighPairCorr
  0.68MWSIX Metropolitan WestPairCorr
  0.76MWUIX Metropolitan West UltraPairCorr
  0.83MWUSX Metropolitan West UltraPairCorr
  0.67MWSTX Metropolitan WestPairCorr
  0.94VWEAX Vanguard High YieldPairCorr
  0.94VWEHX Vanguard High YieldPairCorr
  0.82BHYCX Blackrock Hi YldPairCorr
  0.82BHYIX Blackrock High YieldPairCorr
  0.81BHYSX Blackrock Hi YldPairCorr
  0.81BHYAX Blackrock High YieldPairCorr
  0.75FAHHX American Funds AmericanPairCorr
  0.73FTAHX American Funds AmericanPairCorr
  0.77AHTFX American High IncomePairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
ALEFX
+ 0.98
XEMOX
PNRCX
+ 0.94
FRNRX
XGNTX
+ 0.72
IVEIX
ALEFX
+ 0.68
FRNRX
XEMOX
+ 0.66
FRNRX
XGNTX
+ 0.6
PNRCX
  
High negative correlations   
IVEIX
- 0.37
ALEFX
IVEIX
- 0.34
XEMOX
XGNTX
- 0.29
XEMOX
XGNTX
- 0.24
ALEFX

Risk-Adjusted Indicators

There is a big difference between Metropolitan Mutual Fund performing well and Metropolitan West Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Metropolitan West's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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